Equinox Gold (TSE:EQX) Sets New 52-Week High Following Analyst Upgrade

Equinox Gold Corp. (TSE:EQX) reached a new 52-week high during mid-day trading on Tuesday after TD Securities raised their price target on the stock from C$20.00 to C$22.00. TD Securities currently has a buy rating on the stock. Equinox Gold traded as high as C$19.97 and last traded at C$19.32, with a volume of 815533 shares. The stock had previously closed at C$19.63.

A number of other research firms have also weighed in on EQX. Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. BMO Capital Markets lifted their price objective on Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. National Bankshares boosted their price objective on Equinox Gold from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Finally, CIBC lifted their price target on Equinox Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$22.40.

Insider Transactions at Equinox Gold

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total value of C$1,565,550.00. Following the completion of the sale, the director owned 1,706,616 shares in the company, valued at approximately C$25,445,644.56. This trade represents a 5.80% decrease in their position. Also, insider David Chester Schummer acquired 9,100 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of C$15.20 per share, for a total transaction of C$138,320.00. Following the acquisition, the insider directly owned 168,222 shares in the company, valued at C$2,556,974.40. This represents a 5.72% increase in their position. 6.40% of the stock is owned by company insiders.

Equinox Gold Stock Performance

The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The firm has a 50-day moving average of C$16.48 and a 200 day moving average of C$12.24. The stock has a market capitalization of C$15.31 billion, a P/E ratio of 195.10 and a beta of 2.41.

Equinox Gold (TSE:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. The firm had revenue of C$1.14 billion for the quarter. Research analysts anticipate that Equinox Gold Corp. will post 1.3865979 EPS for the current fiscal year.

Equinox Gold Company Profile

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.